Doris Sisley blogs about real estate and events in Greenwich CT USA. Visit Cos Cob, Old Greenwich, Riverside, Glenville, Byram and central and back country Greenwich.

Thursday, September 29, 2011

What's happening at the Old Greenwich Gables?

Summer has come and gone with a hurricane, much rain, and some splendid sunny days. Others in town lost power, Gables did not! The September 'social at the fountain' was a success, and I hear that new members felt welcomed and happy.

THE BUZZ at the Gables, condos at 51 Forest Avenue, Old Greenwich, CT:

10 sales in 2011, 10 households occupied by new neighbors. If you live in the Gables, say hello if you see someone you don't recognize.

3 additional units active/on market:
Unit 58 @ $599,000 and 62 @$580,000. Each is an oversized "two" bedroom (just install the wall), built in 2011. Rumor has it that unit 58 has an accepted offer.
Unit 20, a first floor end unit with a bay window @ $525,000.

Gable unit sales better than Condo sales in Greenwich 2010-2011Number of condo units sold in town as a whole went down 15% between end of Aug. 2010 and end of Aug 2011. Gables # of units sold was 10 total in 2010, so with 11 already sold this year, the number sold is not down. Gables is ahead of the game!

Gable average sales price stronger than 2010
Average sale prices were on average stronger in 2011 than 2010

Market feedback:Condos with state of the art kitchens and baths sold quickly. Others that did not linger were priced close to sale price. The ten Gables units that closed so far this year sold close to the last asking price. The average was 3.6% off the asking. The range between asking and sold price was between 1.4% and 6.8%

To get offers, the selling price has to be brutally realistic vis a vis the comparable sold units.

To stage or not:
If you're thinking of selling and your kitchen and baths are original, then fresh paint, newly refinished floors, and decluttering are the best way to go. Less is best. Compliment the sparseness with a bouquet of flowers or a flowering plant. Fresh duvet covers or comforters and pillows help. Furnished rooms make it easier for potential buyer to see that the queen bed actually fits in the room. (Most of us are somewhat visually challenged, and need help seeing possibilities).

Last Buzz before signing off:For delicious food, without breaking the bank, try Villa Italia Ristorante. It's in the shopping center just past Glenbrook Road on East Main Street in Stamford. Check out http://www.villaitaliastamford.com/
The location is unprepossessing, but this welcoming family-run restaurant is charming and fun. One of the two sister/owners, Esther or Ligra, will greet you. (Tell them I sent you, you'll be part of the famly in no time). Their brother is in the kitchen, and other family members are part of the wait staff. Linen napkins, flowers on each table, Tuscan blue and yellow decor. What's not to like! Short wait on Friday and Saturday evenings, things turn over--I've always gotten a table. May be able to make a reservation for larger parties. Check it out.